Consumer preferences for the visual presentation of non-fungible tokens (NFTs) of luxury products: the role of perceived authenticity

Kim, Jungkeun, Cho, Areum, Lee, Daniel Chaein, Park, Jooyoung, Kim, Aekyoung, Jhang, Jihoon and Kim, Changju (2025) Consumer preferences for the visual presentation of non-fungible tokens (NFTs) of luxury products: the role of perceived authenticity. Journal of Retailing and Consumer Services, 82. ISSN 0969-6989

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Abstract

Non-fungible tokens (NFTs) are increasingly used to safeguard luxury products from counterfeits. Despite their increasing adoption, limited research has investigated how brands should communicate the use of NFTs—a novel and complex concept for consumers to comprehend—to maximize their benefits. This research aims to examine this gap by highlighting that the ease of visualization is critical for effective communication. Study 1A demonstrated that consumers prefer a visualized NFT to a non-visualized one for authenticating a luxury product. Study 1B further demonstrated that consumers place greater trust in a visualized NFT and are willing to pay higher prices for luxury products that utilize it. Study 2 demonstrated that consumers have more favorable attitudes toward a luxury product that features an easy-to-visualize NFT than those with a difficult-to-visualize NFT and that perceived authenticity mediates this effect. Finally, Study 3 demonstrated that the positive impacts of easy-to-visualize NFT cues were more significant for luxury than non-luxury products. Subsequently, this study suggests an effective communication strategy for NFT use and provides managerial implications for luxury brands aiming to maximize the benefits of using NFTs.

Item Type:	Article
Additional Information:	© 2024 The Author(s)
Divisions:	Management
Subjects:	H Social Sciences > HG Finance H Social Sciences > HF Commerce
Date Deposited:	03 Dec 2024 14:30
Last Modified:	20 Dec 2024 00:59
URI:	http://eprints.lse.ac.uk/id/eprint/126230

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